How to use IBR for Student Loans to get your payments DOWN

Eligibility For Public Service Loan Forgiveness Find out if you're eligible for Public Service Loan Forgiveness (PSLF), and how to apply if you are.

Keep working towards that forgiveness of your loans!!

Public Service Loan Forgiveness As a nonprofit with 60+ years’ experience advocating for students and borrowers, ASA is providing this information free of charge. All eligible borrowers are encouraged to download the form from our site and apply directly with the U.S. Dept. of Ed.

Did you know?
New Jersey students have a default rate of 9.1 percent, the 11th lowest in the Nation. Default is considered 9 months of no payment. Of nearly 90,000 students who borrowed money during school, 8, 153 were in default. Spread the word on this page to help our peers!!!

http://www.nbcnewyork.com/news/national-international/Navient-Sued-Student-Loan-Repayments-411112815.html?_osource=SocialFlowFB_NYBrand

Very important to follow! They don't want to help students get on to programs that are out there to save money, you need to know the programs and advocate for yourself....

Feds Sue Largest US Student Loan Co. Over Repayments Federal regulators have sued Navient, accusing the biggest U.S. student loan company of making it harder for borrowers to repay loans by giving them bad information, processing payments incorrectly and...

This is the new form, I was speaking of, ALL the income driven plans are on one sheet, it does lead to confusion. If you are submitting with out a spouse, make sure you file your taxes separately. As always, make sure that you speak to your accountant to see what is your best financial avenue!!

https://myfedloan.org This is where I had my student loans sent to, Navient was a MESS to deal with. These people are MUCH more knowledge about the programs for debt relief and Public service....

FedLoan Servicing FedLoan Servicing provides customer service to student loan borrowers whose loan is owned by the U.S. Government. We support student borrowers who need an easy, convenient, and online way to manage their student loans.

It is that time of year for me, IBR renewal! The renewal process is NEW, with a new form. It was so new I had to have a representative help me with it. I now feel more comfortable with it, but of course still had to turn it in 3 times as the first time they did not understand how often I got paid, second time they could not "find" my new paystub with explanation of pay and finally the 3rd submitting was to reflect the correct family size....fingers crossed for an affordable payment for my 4th year in!!!!

This is why you have to do your homework, Income based payments work BEST with Public Loan Forgiveness, 10 years of reduced payments forgiven tax free. If not utilizing both programs you may end up with a large tax bill! http://www.nbcnews.com/business/personal-finance/ex-students-income-based-loan-payments-face-crushing-tax-bill-n517566

Ex-Students With 'Income-Based' Loan Payments Face Crushing Tax Bill Income-based repayment was originally passed by Congress in 1994, but it was mostly unused until the introduction of new plans between 2009 and 2015.

Well, it is official! My 4th year, after 3 times submitting my IBR renewal the final amount is $117/month! I feel so blessed to have a payment that is affordable! This is the first year I actually have to pay but OK with that as it is very manageable! Hope you all are doing well with keeping up with your IBR and Public Loan Forgiveness!

Here is a new page that has a great chart so you can see where you fall in regards to your monthly payment on IBR, at the bottom it goes over Public Loan Forgiveness....Good luck all!

http://loans.org/student/questions/how-does-ibr-plan-work

How does the Income-Based Repayment (IBR) plan work? - loans.org The IBR plan is a great way to manage one’s monthly student loan payments. It helps reduce student loans to manageable amounts based on income and family size.

Great page for information on IBR:
https://www.acs-education.com/CS/Jsp/loanoptions/ibr.jsp

Official page for Public Service Loan Forgiveness:https://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness-common-questions.pdf (This is for those that have some sort of work with the Government, many qualify even if they are NOT a Government employee so look and see if your relationship is one that allows you to take part in this!

Getting Prepared Before Seeking Help | Federal Student Aid Understand the process of contacting the Federal Student Aid Ombudsman Group to get help with resolving disputes about your federal student loans.

Welcome to all the new comers! Feel free to scroll all the way back to the start of this page, everything you need to know is on this page. It takes work and determination but these programs are out there to help!